CK Asset Holdings Limited · HKEX:1113
CK Asset — H1 2024 Earnings Presentation
23 slides from CK Asset's earnings presentation, Aug 15, 2024
Slide 1: 2024 Interim Results
CK ASSET HOLDINGS LIMITED 2024 INTERIM RESULTS 15 August 2024
Slide 2: Disclaimer
Potential investors and shareholders of the Company (the “Potential Investors and Shareholders”) are reminded that information contained in this Presentation comprises extracts of operational data and financial information of the Group. The information included is solely Disclaimer for the use in th
Slide 3: 2024 Interim Results Highlights
2024 Interim Results Highlights 2024 2023 2024 2023 HK$ Million HK$ Million HK$ per share HK$ per share Change Revenue 34,727 36,516 -4.9% Profit before IP revaluation 6,726 7,576 1.91 2.11 -9.5% IP revaluation (net of tax and 1,877 2,755 0.53 0.77 non-controlling interests) Profit attributable to 8
Slide 4: 2024 Interim Results Highlights
HK$0.39 HK$110.23 Dividend per share Net book value per share -9.3% +1.4% DPS (HK$/share) 2.5 2 1.5 1 0.5 2024 Interim 0 0.43 0.39 Results Highlights 2016 2017 2018 2019 2020 2021 2022 2023 2024 Interim Final Note: (1) Net book value per share is based on 3,510,828,333 shares in issue on 30 June 202
Slide 5: Principal Activities Analysis
Revenue by Principal Activities Principal Activities HK$ Million 77% recurrent 87% recurrent Analysis HK$28,270M HK$30,092M 87% of our revenue and 82% of our profit contribution are recurrent in nature Profit Contribution by Principal Activities HK$ Million 82% recurrent 69% recurrent HK$8,142M HK$7
Slide 6: 2024 Interim Results Highlights
2024 Interim Results Highlights 39% contribution from HK, 8% from the Mainland, 53% from Overseas 2024 HK$ Million Profit Contribution Profit Contribution by Geography Hong Kong 3,856 The Mainland 839 UK 3,003 Others 2,265 HK$ Million Total 9,963 Note: (1) Profit Contribution refers to contribution
Slide 7: Property Sales
Property Sales Fewer sales recognition leading to lower contribution HK$ Million 2024 2023 Change Revenue 4,635 8,246 -44% Profit 1,821 3,530 -48% contribution Margin 39.3% 42.8% 7
Slide 8: Property Sales
Property Sales Solid margins across all markets 40.1% 40.3% 24.5% Hong Kong The Mainland Overseas HK$ Million Revenue Profit Contribution & Margin 2024 2023 2024 2023 Hong Kong 2,601 4,316 1,044 40.1% 1,666 38.6% The Mainland 1,761 3,542 710 40.3% 1,677 47.3% Overseas 273 388 67 24.5% 187 48.2% 8
Slide 9: Property Sales
Property Sales HK$28,440M contracted sales not yet recognized • About HK$5,407 million scheduled for recognition in 2024 Hong Kong The Mainland Overseas HK$21,166M HK$3,050M HK$4,224M 9
Slide 10: Property Rental
PROPERTY RENTAL HK$ Million 2024 2023 Change Revenue 3,118 2,862 9% Profit 2,444 2,316 6% contribution Margin 78.4% 80.9% 10
Slide 11: Property Rental Analysis
Revenue by 2024 2023 Property Rental Analysis Change Significant increase in social infrastructure contribution use of property HK$ Million HK$ Million Retail 971 1,051 -7.6% Office 890 964 -7.7% Industrial 385 385 0.0% Social infrastructure 648 239 +171.1% Others 224 223 +0.4% Total 3,118 2,862 +8.
Slide 12: 22.2 million sq.ft. of investment properties
22.2 million sq.ft. of investment properties Increase in fair value of investment properties of HK$1,420 million (before tax and non-controlling interests) Social infrastructure Upper West, Shanghai Hong Kong 13.1 million sq. ft. The Mainland 4.6 million sq. ft. Overseas 4.5 million sq. ft. The Wham
Slide 13: Hotel and Serviced Suite Operation
Hotel and Serviced Suite Operation Solid recovery in margin and contribution year on year HK$ Million 2024 2023 Change Revenue 2,130 1,950 +9% Profit 823 637 +29% contribution Margin 38.6% 32.7% 13
Slide 14: Hotel and Serviced Suite Operation
HK$ Million Profit Contribution 2024 2023 Hong Kong 853 717 The Mainland (30) (80) Total 823 637 Average hotel room Hotel and 81 % occupancy rate Serviced Suite Average serviced suites 88 % occupancy rate Operation 14
Slide 15: Property and Project Management
Property and Project Management 264 million sq. ft under management HK$ Million 2024 2023 Change Revenue 445 454 -2% Profit 180 198 -9% contribution Margin 40.4% 43.6% 15
Slide 16: Pub Operation
Pub Operation A leading integrated brewer and pub retailer operating about 2,600 pubs restaurants and hotels across England, Wales and Scotland Pub Pub Brewing & Company Partners Brands Operates food-led Owns a portfolio of Sells and distributes a and drink-led mainly drink-led pubs wide range of be
Slide 17: Pub Operation
Pub Operation Sector still impacted by high cost pressure and subdued volume Pub Pub Brewing & 2024 Total 2023 Total Company Partners Brands Change HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million Revenue 9,743 926 1,154 11,823 11,264 +5% Profit 310 250 37 597 586 +2% contribution Margin
Slide 18: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Interest Principal Activity in Joint Venture CK William JV An owner and operator of energy utility assets in 40% Australia, the United States, Canada and the United Kingdom CKP (Canada) JV A building equipment and service provider under the 75% consumer bra
Slide 19: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Healthy margin and resilient contribution across the portfolio 47.3% Revenue Profit Contribution (HK$ Million) (HK$ Million) Margin CK William JV 2,366 720 30.4% CKP (Canada) JV 2,325 708 30.5% ista JV 3,467 894 25.8% UK Power Networks JV 1,835 959 52.3% No
Slide 20: Interests in Real Estate Investment Trusts
Hui Xian REIT Fortune REIT Prosperity REIT Interests in Real Estate Investment Trusts Interest as of 30 June 2024 34.5% 11.8 26.0% 30 18.0% 1.3 HK$116 million(1) total distribution received Asset under management 11.8 3.0 1.3 (Million sq.ft.) (2) HK$ Million 2024 2023 Share of (loss)/profit of Hui X
Slide 21: Gearing and Maturity Profile
Gearing and Maturity Profile Bank and other loans HK$ Billion with maturities 6.0% Net Debt to Within one year 14.9 Shareholders’ Funds Within two to five years 34.9 Beyond five years 6.3 5.5% Net Debt to Total 56.1 Net Total Capital Bank balances and Moody’s: 32.8 A2 (Stable) deposits S&P: A (Stabl
Slide 22: Landbank Summary
Landbank Summary Total landbank of 132 million sq. ft. Overseas Hong Kong The Mainland Total(1)(2) Million Million sq.ft. Million sq.ft. Million sq.ft. sq.ft. Properties under 7 63 4 74 Development Investment Properties 13 5 4 22 Hotels and Serviced 8 1 - 9 Suites Pub Properties - - 27 27 Total 28 6
Slide 23: Thank You
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